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6.1 Electronic Payment: Payment made online or electronic. - Coggle…
6.1 Electronic Payment:
Payment made online or electronic.
6.1.1 Payment revolution
Ease of use
Transaction fees
Anonymity
International support
6.2 Payment cards
Debit card
Charge card
Credit card
6.2.2 Key participants in processing credit card online
Acquiring bank
Card association
Merchant
Payment processing service
Issuing bank
Processors
Customer
6.3 Smart Card: embedded microchip
6.3.1 Types of Smart Cards
Integrated circuit (IC) memory cards (no processor)
Optical memory cards
Integrated circuit (IC) microprocessor cards
Exp:
Contact card
Contact less card
6.3.2 Applications of smart cards
Health care
Retail purchases
Loyalty cards
Transit fares
E-Identification
6.4 E-wallet
Exp: TNG, Boost
Mindful of expenditures
Safer to go contact less
Convenience
Reward and cashback
Minimize theft and fraud